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Notice of Financial Results for the 2nd Quarter of FY 2015 and Revision of the Full-Year Results Forecast

November 4, 2015

NTT Urban Development Corporation
(First Section of the Tokyo Stock Exchange: 8933)

NTT Urban Development Corporation (head office: Chiyoda-ku, Tokyo, President and Chief Executive Officer: Sadao Maki) announced the consolidated financial results for the NTT Urban Development Group for the 2nd quarter of FY 2015 (referring to the 31st business period from April 1, 2015 to September 30, 2015) and revised its full-year results forecast. Please refer to the Presentation Material for the 2nd Quarter of FY 2015 and the Summary of Financial Statements for the 2nd Quarter of FY 2015

Highlights

  • For the 2nd quarter of FY 2015 operating revenue reached ¥71.1 billion, a decrease of ¥3.2 billion compared with the same period of the previous fiscal year. Operating income was ¥12.2 billion, a decrease of ¥0.9 billion, ordinary income was ¥10.5 billion, a decline of ¥0.6 billion, and profit*1 was ¥6.5 billion, a decrease of ¥1.1 billion. Profit attributable to owners of parent*1 was ¥5.7 billion, a decrease of ¥1.2 billion.
  • About Leasing business, operating revenue increased and operating income fell year on year due to increase in income from improvement in vacancy rate for the previous fiscal year and increased cost of new buildings.
  • In Residential Business, operating revenue decreased due to reduction in number of delivered units, and operating income increased due to delivery of high-margin Central Tokyo condominium units.
  • For the fiscal year ending March 2016, the Company has revised full year forecasts upward. Operating revenue rise to ¥180.0 billion, operating income to ¥35.0 billion, ordinary income to ¥31.5 billion and Profit attributable to owners of parent*1 to ¥15.0 billion based on expanding sales of properties and improvements in profit margin due to delivery of Central Tokyo condominium units.

*1: The Company have adopted “Revised Accounting Standard for Business Combination”, etc. and changed some account titles from the three months ended June 30, 2015 accordingly.

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